3 Required Compute variances for the following items and indicate whether each variance is favorable (F) or unfavorable (U): (Select "None" if there is no effect (i.e., zero variance).) 10 points Item Budget Actual Variance Effect $ 528 $ 656 01:18:50 $ $ 606,000 363,000 583,000 389,500 Skipped $ $ $ $ 284,500 181,000 278,000 184,500 $ $ Sales price Sales revenue Cost of goods sold Material purchases at 5,000 pounds Materials usage Production volume Wages at 4,000 hours Labor usage at $16 per hour Research and development expense Selling and administrative expenses 915 units 980 units units eBook $ $ $ 59,000 97,600 29,500 $ 60,600 96,300 25,000 53,500 $ $ Print $ 43,000 $ References